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Bearing Lithium Corp. is a mineral exploration and development company, focused primarily on lithium. Through an agreement with Li3 Energy Inc. (OTCQB:LIEG), Bearing will acquire an undivided 17.7% interest in the advanced-stage Maricunga project located in Chile. The Maricunga lithium brine project represents one of the highest-grade undeveloped lithium salars in the Americas. Over US$30 million has been invested in the project to date and all future expenditures through to the delivery of a Definitive Feasibility Study (DFS) are fully-funded by it's joint venture partners. A resource expansion and project de-risking program is currently underway with an updated resource calculation anticipated in H1/2017.
The Salar de Maricunga represents one of the highest-grade, undeveloped salars in the Amercias second in grade only to the Salar de Atacama, which accounts for 100% of Chile’s production or about 40% of global production. The project is located in Region III of Atacama in northern Chile, approximately 170 km northeast of Copiapo and adjacent to International Highway 31. The project is host to a NI 43-101 compliant Measured resource of 0.60 Mt LCE plus Inferred resource of 0.06 Mt LCE, both at an average grade of 1,250 mg/L lithium. The project is comprised of a number of tenements totaling 4,463 hectares, of which some are grandfathered under a previous mining code which may allow for the exploitation of lithium.
The newly formed joint-venture agreement (c.f. September 13th, 2016) outlines a 50% interest for Lithium Power International Ltd (ASX:LPI), a 32.3% interest for Minera Salar Blanco (private co) and a 17.7% interest for Li3 Energy (OTCQB:LIEG). Under the agreement, Lithium Power International will provide initial capital of US$8.38 million to facilitate the first two phases of development over the coming 12-months. The Phases 1 & 2 exploration program will include the drilling of 16 exploration wells, 2 pump test wells, an updated JORC-compliant resource, the construction of a lithium and potash pilot plant, evaporation ponds, and other associated infrastructure plus the commencement of an Environmental Impact Assessment (EIA) and Definitive Feasibility Study (DFS). Lithium Power International will also fund a Phase 3 program of US$13.62 million to complete the aforementioned EIA and DFS, both of which are anticipated in 2018.
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) is pleased to announce that, on May 24th, 2017, it filed a response to the United Securities and Exchange Commission..Read more
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRANKFURT: B6K1) is pleased to announce that Mr. Timothy Heenan has been appointed to the Board..Read more
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRA: B6K1) announces that it has entered into a revised settlement agreement (the “Revised Settlemen..Read more
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